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afterdawn.com > news > sonicblue fails to sell its assets to d&m
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SonicBlue fails to sell its assets to D&M

2 April 2003 13:37 by Petteri "dRD" Pyyny

SonicBlue, the company which is well-known of its mega-popular digital multimedia products such as Rio MP3 player and ReplayTV PVR devide, filed a Chapter 11 bankruptcy in last month, but said that it is prepared to sell its brands to Japanese D&M Holdings in order to save some of its shareholders' value. Now that deal has failed.

Bankruptcy court set a deadline for SonicBlue's reorganization arrangements, but SonicBlue failed to finalize the deal with D&M before the deadline. This means that company's main assets, Rio and ReplayTV, are to be auctioned on 15th of April. Company's other products, such as GoVideo line of dual-deck VCRs, will be auctioned at 4th of April. SonicBlue had more than $330M of debt in November last year.

Source: InternetNews.com

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Related articles:

  • SonicBlue sold ReplayTV and Rio to D&M (16 April 2003)
  • SonicBlue files Chapter 11 (21 March 2003)
  • Sonicblue lays off 90 employees (12 September 2001)
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